The European Bank for Reconstruction and Development (EBRD) has taken a significant step in supporting Lithuania’s transition to green energy by investing in the Kelmė wind farm project. This positive step is part of a new pattern of deepening dedication by the EBRD. Since its founding, the organization has committed more than €1.8 billion to 143 projects across Lithuania. Following completion, the Kelmė wind farm will generate approximately 740 GWh of new, zero-carbon electricity annually. This clean energy will be enough to supply approximately 250,000 homes annually.
In 2020, the EBRD increased its stake and became Ignitis’ second largest shareholder. This action signals their deep dedication towards improving Lithuania’s energy security and supporting sustainable energy alternatives. Ignitis, already enjoying 2.1 GW of installed green capacities, wants to grow this up to 5 GW by 2030. The Kelmė project, which includes a total investment of €550 million, is something of a proof of concept paving the way to reaching these ambitious targets.
Financing the Future of Energy
The EBRD has played a key role in financing the Kelmė wind farm. In particular, it offered a loan in the context of an overall financing package for Ignitis of €318 million. This package is designed to support the wind farm’s development and to enhance Lithuania’s overall energy security. Our nation’s dirty energy legacy is starting to give way to clean, renewable energy. Investments like these are the key to us reaching our national as well as European Union climate targets.
The Kelmė wind farm project is a great example of how strategic financing can help meet urgent energy demands with positive environmental impact. Ignitis’ initiative goes a long way to align with the EU’s climate goals. It’s proof of their dedication to reducing carbon emissions and increasing the deployment of renewable energy technology.
Expanding Green Capacity
Lithuania’s energy needs continue to grow. That’s why projects like the Kelmė wind farm are so important to ensuring a robust green energy infrastructure. Now Ignitis is really living up to the national energy expectations. Simultaneously, it has taken the regional leadership role in the production of renewable green energy.
With plans to achieve up to 5 GW of installed green generation capacity by 2030, Ignitis is positioning itself as a leader in renewable energy. The EBRD is currently closing deals that continue to bolster this narrative. These investments increase the likelihood of future green projects that will help Lithuania’s aspirations of continuing to build a greener economy.
A Collaborative Journey
The joint work of EBRD and Ignitis is one of the biggest collaborations towards sustainable energy development in the region. Ever since Ignitis went public in 2020, it has been turning heads with its ambitious plans. World Wide Opportunities on Organic Farms The organization has produced remarkable waves throughout Lithuania’s green energy scene.
The Kelmė wind farm is preparing to become operational. It’s more than just an investment in infrastructure, it’s an ambitious commitment to the longterm future of younger generations. By generating clean energy for hundreds of thousands of households, this project reflects the potential for positive change in energy production and consumption.
